Market-penetration, product-development, and market-development strategies would all be examples of _______

Baker earned $113,300 of salary as an employee in 2012. How much should his employer have withheld from his paycheck for FICA ta

Murrr4er [49]

Answer:

Employer should withheld $1,643 from Baker's salary

Explanation:

Baker earned $113,300 in 2012. As on 2012, FICA tax rate withheld from employee's salary is 7.65% that constitutes 4.5% of social security, 1.45% of medicare taxes and 2% additional for employees whose wages exceed $18,350.

The gross income base for social security part has increased in 2012 to $110,100. This is not applicable for medicare tax of 1.45%.

Here, Baker's salary of $113,300 is above social security limit, so his income will not be withheld for social security. However, 1.45% of his salary will be withheld for medicare tax.

Therefore, $1,643 that is 0.0145×113,300 is withheld from his salary.

5 0

3 years ago

Powers Corporation has provided the following information for its most recent month of operation: sales $16,000; ending inventor

Elza [17]

Answer:

The beginning inventory was $2000.

Explanation:

First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000 = $6000

The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:

Cost of goods sold = Beginning inventory + Purchases - Closing Inventory

Plugging in the available figures in the formula,

6000 = Beginning Inventory + 8000 - 4000

6000 = Beginning inventory + 4000

6000 - 4000 = Beginning Inventory

Beginning Inventory = $2000

7 0

3 years ago

Which of the following loans will typically offer the lowest interest rate? A:Payday loan B:Federal Student Loan C:Private Loan

neonofarm [45]

C. Private loan - a loan between two private parties can be set to whatever they want and is usually lower than the average that banks and other professional industries offer.

FYI - payday loans will have some of the highest interest rates of all loans.

Hope that helps

8 0

3 years ago

During January, the solar cell factory begins 57,000 solar cells, and completes 53,000 of them. The remaining 4,000 solar cells

pogonyaev

Answer:

"2000 units" is the right solution.

Explanation:

The given values are:

Transferred from WIP,

= 53,000 units

Units sold,

= 61,000 units

Beginning inventory,

= 10000 units

Now,

The total number of finished goods will be:

= $( Beginning \Inventory + Transferred \ from \ WIP - Units \ Sold )$

On substituting the values, we get

= $( 10000 + 53000 - 61000 )$

= $2000 \ Units$

4 0

3 years ago

During 2021, its first year of operations, Pave Construction provides services on account of $124,000. By the end of 2021, cash

7nadin3 [17]

Answer:

The adjusting entry for uncollectible accounts on December 31, 2021:

Debit Bad debts expense $9,600

Credit Allowance for uncollectible accounts $9,600

Explanation:

During 2021, Pave Construction provides services on account of $124,000. By the end of 2021, cash collections on these accounts total $92,000.

The balance of uncollected accounts on December 31, 2021 = $124,000 - $92,000 = $32,000

Pave estimates that 30% of the uncollected accounts will be uncollectible.

Estimated uncollectible = 30% x $32,000 = $9,600

The adjusting entry for uncollectible accounts on December 31, 2021:

Debit Bad debts expense $9,600

Credit Allowance for uncollectible accounts $9,600

8 0

3 years ago

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.